GARY BUSEY Emerges From Bankruptcy In Massive Debt

The Bad News: Despite wiping over $50k in debt from his name — he’s still in the hole OVER $450,000.

According to legal docs, Busey — who filed for Chapter 7 back in February claiming he owed over $500k to creditors — was discharged from his bankruptcy on November 26.

As part of the deal … Busey got to keep all his assets (all $26k worth of them) and was able to free himself of $57,303.63 worth of debt to various creditors … like banks, utility companies and doctors.

But the good news stops there … because according to docs Gary still owes $451,297.33 in state and federal taxes, which FYI — are NOT eligible to be cleared.

Translation: Gary’s case is closed — but he’s still got MAJOR money problems.

And we reached out to Gary, who tells us, “When you have too much, it’s a good feeling to let go. My new hobby is just breaking even.”